MAPLETREE INDUSTRIAL TRUST UNAUDITED FINANCIAL STATEMENT AND DISTRIBUTION ANNOUNCEMENT FOR THE FINANCIAL PERIOD FROM 1 APRIL 2018 TO 30 JUNE 2018

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1 (Constituted in the Republic of Singapore pursuant to a Trust Deed dated 29 January 2008 (as amended)) MAPLETREE INDUSTRIAL TRUST UNAUDITED FINANCIAL STATEMENT AND DISTRIBUTION TABLE OF CONTENTS Item No. Description Page No. - Summary Results of Mapletree Industrial Trust Group 2 - Introduction 3 (a) Statement of Total Return and Distribution Statement (MIT Group) 4 5 (b)(i) Statement of Financial Position (MIT Group) 6 (b)(ii) Aggregate Amount of Borrowings and Debt Securities (MIT Group) 7 (b)(i) Statement of Financial Position (MIT) 8 (c) Statement of Cash Flows (MIT Group) 9 (d)(i) Statement of Movements in Unitholders' Funds (MIT Group) 0 (d)(i) Statement of Movements in Unitholders' Funds (MIT) (d)(ii) Details of Any Change in Units 2 2 & 3 Audit Statement 2 4 & 5 Changes in Accounting Policies Earnings Per Unit ("EPU") and Distribution Per Unit ("DPU") 3 7 Net Asset Value ("NAV") and Net Tangible Asset ( NTA ) Per Unit 3 8 Review of the Performance Variance from Prospect Statement 7 0 Outlook and Prospects 8 & 2 Distributions & 4 Segment Information (MIT Group) 20 5 General Mandate relating to Interested Person Transactions 20 6 Confirmation pursuant to Rule 720() of the Listing Manual 2 7 Confirmation by the Board 2

2 Summary Results of Mapletree Industrial Trust Group ( MIT Group ) QFY8/9 4QFY7/8 Inc/(Dec) % QFY7/8 Inc/(Dec) % Gross revenue (S$ 000) 9,487 90, , Net property income (S$ 000) 69,459 67, ,92.9 Amount available for distribution (S$ 000) 56, , , No. of units in issue ( 000),885,609,885,28 *,802, Distribution per unit (cents) * Increase less than 0.% Footnotes: MIT Group comprises Mapletree Industrial Trust ( MIT ) and its wholly owned subsidiaries. 2 Amount available for distribution included share of distribution of S$3.2 million declared by joint venture based on MIT s 40% interest in the joint venture with Mapletree Investments Pte Ltd. 2

3 Introduction MIT is a real estate investment trust listed on the Main Board of Singapore Exchange. Its principal investment strategy is to invest in a diversified portfolio of income-producing real estate used primarily for industrial purposes in Singapore, and income-producing real estate used primarily as data centres worldwide beyond Singapore, as well as real estate-related assets. MIT Group s property portfolio comprises 86 industrial properties in Singapore and 4 data centres in the United States (40% interest through the joint venture with Mapletree Investments Pte Ltd ( MIPL )). The properties in Singapore include Hi-Tech Buildings, Flatted Factories, Business Park Buildings, Stack-up/Ramp-up Buildings and Light Industrial Buildings. As at 30 June 208, MIT s total assets under management was S$4.4 billion. MIT s distribution policy is to distribute at least 90.0% of its amount available for distribution, comprising substantially rental income from the letting of its properties and related property services income after deduction of allowable expenses, as well as interest income from the periodic placement of cash surpluses in bank deposits. 3

4 (a) Statement of Total Return and Distribution Statement (MIT Group) (QFY8/9 vs QFY7/8) Statement of Total Return QFY8/9 QFY7/8 Increase/ (Decrease) (S$ 000) (S$ 000) % Gross revenue 9,487 88, Property operating expenses (Note A) (22,028) (20,620) 6.8 Net property income 69,459 68,92.9 Interest income 60 (57) Borrowing costs (Note B) (9,358) (7,874) 8.8 Manager's management fees - Base fees (4,966) (4,730) Performance fees (2,500) (2,455).8 Trustee's fees (42) (32) 7.6 Other trust expenses (303) (39) (5.0) Net foreign exchange gain 3 - ** Share of profit of joint venture (net of taxes) 2 4,334 - ** Net income / total return for the period before income tax 56,587 52, Income tax credit * - ** Total return for the period after income tax 56,587 52, Distribution Statement QFY8/9 QFY7/8 Increase/ (Decrease) (S$ 000) (S$ 000) % Total return for the period after tax 56,587 52, Adjustment for net effect of non-tax deductible items and other adjustments (Note C) (2,96) 280 (,4.4) Distribution declared by joint venture 3,237 - ** Amount available for distribution 56,908 52, Footnotes: Includes waiver of late payment interest of S$0. million previously charged in 4QFY6/7. 2 Share of profit of joint venture (net of taxes) relates to MIT s 40% interest in the joint venture with MIPL. The results for the joint venture were equity accounted for at the Group level. 4

5 Notes QFY8/9 QFY7/8 Increase/ (Decrease) (S$ 000) (S$ 000) % Note A Property operating expenses include: Depreciation (5) *,43.6 Note B Borrowing costs include: Interest on borrowings (9,247) (7,639) 2.0 Note C Adjustment for net effect of non-tax deductible/(chargeable) items and other adjustments comprises: Trustee s fees Financing related costs (23.7) Management fees paid/payable in units Expense capital items Adjustments from rental incentives (52) (,67) (55.4) Share of profit of joint venture (4,334) - ** Net foreign exchange gain (3) - ** Others * Amount less than S$,000 ** Not meaningful 5

6 (b)(i) Statement of Financial Position (MIT Group) 30 June March 208 (S$ 000) (S$ 000) Current assets Cash and cash equivalents 40,805 37,49 Trade and other receivables 25,072 24,398 Other current assets,28,572 Derivative financial instruments - 4 Total current assets 67,58 63,403 Non-current assets Investment properties 3,934,253 3,856,600 Investment property under development 67,98 5,700 Investment in joint venture 86,54 8,58 Plant and equipment Derivative financial instruments 2,867,375 Total non-current assets 4,90,938 4,090,97 Total assets 4,258,096 4,54,320 Current liabilities Trade and other payables 87,87 03,08 Borrowings 88,399 84,927 Derivative financial instruments Current income tax liabilities Total current liabilities 276, ,309 Non-current liabilities Other payables 49,053 5,403 Borrowings,44,864,033,90 Derivative financial instruments,40,346 Total non-current liabilities,95,38,085,939 Total liabilities,47,946,374,248 Net assets attributable to Unitholders 2,786,50 2,780,072 Represented by: Unitholders' funds 2,786,50 2,780,072 Net asset value per unit (S$) Footnote: Derivative financial instruments reflect the fair value of the interest rate swaps and currency forwards entered into by the Group to manage its interest rate risks and currency risks. 6

7 (b)(ii) Aggregate Amount of Borrowings and Debt Securities (MIT Group) 30 June March 208 (S$ 000) (S$ 000) Current Bank loan (unsecured) 63,442 60,000 Less: Transaction costs to be amortised - (5) 63,442 59,985 Medium Term Notes ( MTN ) (unsecured) 25,000 25,000 Less: Transaction costs to be amortised (43) (58) 24,957 24,942 Non-current Bank loan (unsecured) 867, ,838 Less: Transaction costs to be amortised (,09) (,075) 865,97 753,763 Medium Term Notes ( MTN ) (unsecured) 280, ,000 Change in fair value of hedged item 2 (620) (65) Less: Transaction costs to be amortised (487) (508) 278, ,427,333,263,28,7 Footnotes: Related transaction costs are amortised over the bank loan facility periods and the tenors of the MTN. 2 Relates to the changes in fair value of the S$75.0 million MTN issued on May 205; the Group has adopted a fair value hedge on this series of MTN. 7

8 (b)(i) Statement of Financial Position (MIT) 30 June March 208 (S$ 000) (S$ 000) Current assets Cash and cash equivalents 37,964 30,80 Trade and other receivables 25,206 27,244 Other current assets Derivative financial instruments - 4 Total current assets 63,89 58,979 Non-current assets Investment properties 3,756,099 3,678,700 Investment property under development 67,98 5,700 Investments in: - joint venture 66,58 66,58 - subsidiaries * * Plant and equipment Loan to a subsidiary 2 66,594 66,594 Derivative financial instruments 2,867,375 Total non-current assets 4,58,995 4,064,6 Total assets 4,222,84 4,23,590 Current liabilities Trade and other payables 84,583 98,95 Borrowings 63,442 59,985 Loan from a subsidiary 24,957 24,942 Derivative financial instruments Current income tax liabilities Total current liabilities 273, ,6 Non-current liabilities Other payables 48,295 50,765 Borrowings 865,97 753,763 Loans from a subsidiary 278, ,427 Derivative financial instruments,40,346 Total non-current liabilities,94,560,085,30 Total liabilities,467,900,369,47 Net assets attributable to Unitholders 2,754,94 2,754,73 Represented by: Unitholders' funds 2,754,94 2,754,73 Net asset value per unit (S$) * Amount less than S$,000 Footnotes: Derivative financial instruments reflect the fair value of the interest rate swaps and currency forwards entered into by MIT to manage its interest rate risks and currency risks. 2 Reflects MIT s quasi equity investment in MSIT. 8

9 (c) Statement of Cash Flows (MIT Group) QFY8/9 QFY7/8 (S$ 000) (S$ 000) Cash flows from operating activities Total return for the period after tax 56,587 52,625 Adjustments for: - Income tax credit * - - Interest income (60) 57 - Borrowing costs 9,358 7,874 - Manager's management fees paid/payable in units Rental incentives (52) (,67) - Depreciation 5 * - Share of profit of joint venture (net of taxes) (4,334) - - Unrealised translation gain 7 - Operating cash flows before working capital changes 6,824 59,892 Changes in operating assets and liabilities Trade and other receivables (48) (535) Trade and other payables (8,856) (5,84) Other current assets 4 (57) Cash generated from operations 52,934 54,06 Interest received Income tax credit * - Net cash provided by operating activities 52,994 54,00 Cash flows from investing activities Additions to investment properties (80,426) (970) Additions to investment properties under development (23,42) (25,043) Distribution received from joint venture 3,23 - Net cash generated used in investing activities (00,337) (26,03) Cash flows from financing activities Repayment of bank loans (86,400) (88,000) Gross proceeds from bank loans 200,204 9,592 Payment of financing related costs () (800) Distributions to Unitholders (55,64) (5,902) Interest paid (7,350) (5,888) Net cash generated from/(used in) financing activities 50,729 (26,998) Net increase in cash and cash equivalents 3,386,089 Cash and cash equivalents at beginning of period 37,49 37,985 Currency translation on cash and cash equivalents * - Cash and cash equivalents at end of the period 40,805 39,074 * Amount less than S$,000 Footnote: Includes the acquisition of 7 Tai Seng Drive which was completed on 27 June

10 (d)(i) Statement of Movements in Unitholders Funds (MIT Group) QFY8/9 (S$ 000) QFY7/8 (S$ 000) OPERATIONS Balance at beginning of the period 94, ,646 Total return for the period 56,587 52,625 Distributions (55,64) (5,902) Balance at end of the period 942,06 853,369 UNITHOLDERS' CONTRIBUTION Balance at beginning of the period,839,263,684,05 Manager's management fees paid in units Balance at end of the period,840,05,684,552 HEDGING RESERVE Balance at beginning of the period 393 (3,908) Fair value gain/(loss),87 (3,989) Cash flow hedges recognised as borrowing costs 706,7 Share of hedging reserve of joint venture 2,9 - Balance at end of the period 4,477 (6,780) FOREIGN CURRENCY TRANSLATION RESERVE Balance at beginning of the period (672) - Currency translation differences arising from share of profit of joint venture Balance at end of the period (439) - Total Unitholders' funds at end of the period 2,786,50 2,53,4 0

11 (d)(i) Statement of Movements in Unitholders Funds (MIT) QFY8/9 (S$ 000) QFY7/8 (S$ 000) OPERATIONS Balance at beginning of the period 95, ,344 Total return for the period 53,674 52,645 Distributions (55,64) (5,902) Balance at end of the period 93,03 836,087 UNITHOLDERS' CONTRIBUTION Balance at beginning of the period,839,263,684,05 Manager's management fees paid in units Balance at end of the period,840,05,684,552 HEDGING RESERVE Balance at beginning of the period (33) (3,908) Fair value gain/(loss),87 (3,989) Cash flow hedges recognised as borrowing costs 706,7 Balance at end of the period,760 (6,780) Total Unitholders' funds at end of the period 2,754,94 2,53,859

12 (d)(ii) Details of Any Change in Units QFY8/9 QFY7/8 Balance as at beginning of the period,885,27,60,802,60,68 Manager's management fees paid in units 390,96 287,267 Total issued units at end of the period 2,885,608,57,802,447,435 Footnotes: The Manager has elected, in accordance with the Trust Deed, for new units to be issued as part payment of base fee to the Manager. 2 There were no convertibles, treasury units and units held by subsidiaries as at 30 June 208 and 30 June Whether the figures have been audited, or reviewed and in accordance with which standard, (e.g. the Singapore Standard on Auditing 90 (Engagements to Review Financial Statements), or an equivalent standard) The figures have not been audited or reviewed by the auditors. 3. Where the figures have been audited, or reviewed, the auditors' report (including any qualifications or emphasis of matter) Not applicable. 4. Whether the same accounting policies and methods of computation as in the issuer s most recent audited annual financial statements have been applied Except as disclosed in paragraph 5, the accounting policies and methods of computation applied in the financial statements for the current reporting period are consistent with those used in the audited financial statements for the financial year ended 3 March If there are any changes in the accounting policies and methods of computation, including any required by an accounting standard, what has changed, as well as the reasons for, and the effect of the change The Accounting Standards Council (Singapore) has introduced a new financial reporting framework, Singapore Financial Reporting Standards (International) ( SFRS(I) ), that is identical to the International Financial Reporting Standards issued by the International Accounting Standards Board, for the financial year beginning on or after January 208. The Monetary Authority of Singapore has granted MIT Group a waiver from compliance with the requirement under Paragraph 4.3 of Appendix 6 to the Code on Collective Investment Schemes to prepare its financial statements in accordance with the Singapore Financial Reporting Standards. The Group has adopted SFRS(I) on April 208 and as a result, MIT Group s financial statements for the financial year ending 3 March 209 will be prepared in accordance with SFRS(I). 2

13 The adoption of SFRS(I) has no material effect on the amounts reported for the current and prior financial periods. Certain comparative figures have been reclassified to conform to the current period presentation. 6. Earnings Per Unit ("EPU") and Distribution Per Unit ("DPU") QFY8/9 QFY7/8 Weighted average number of units,885,449,573,802,343,26 Earnings per unit ( EPU ) Basic and Diluted 2 Based on the weighted average number of units in issue (cents) No. of units in issue at end of period DPU Based on number of units in issue at end of period (cents),885,608,57,802,447, Footnotes: Weighted average number of units has been adjusted to take into effect the new units issued as part payment of base fee to the Manager. 2 Diluted earnings per unit were the same as the basic earnings per unit as there were no dilutive instruments in issue. The EPU were calculated using the total return and the weighted average number of units in issue during the respective periods. 7. Net Asset Value ("NAV") and Net Tangible Asset ( NTA ) Per Unit 30 June 208 MIT Group 3 March June 208 MIT 3 March 208 NAV and NTA per unit (S$) Footnote: Net tangible asset per unit was the same as net asset value per unit as there were no intangible assets as at the statement of position dates. 3

14 8. Review of the Performance Statement of Total Returns (MIT Group) QFY8/9 vs QFY7/8 QFY8/9 QFY7/8 Increase/ (Decrease) (S$ 000) (S$ 000) % Gross revenue 9,487 88, Property operating expenses (22,028) (20,620) 6.8 Net property income 69,459 68,92.9 Interest income 60 (57) Borrowing costs (9,358) (7,874) 8.8 Manager's management fees - Base fees (4,966) (4,730) Performance fees (2,500) (2,455).8 Trustee's fees (42) (32) 7.6 Other trust expenses (303) (39) (5.0) Net foreign exchange gain 3 - ** Share of profit of joint venture (net of taxes) 4,334 - ** Net income / total return for the period before income tax 56,587 52, Income tax credit * - ** Total return for the period after income tax 56,587 52, Net non-tax deductible items (2,96) 280 (,4.4) Distribution declared by joint venture 3,237 - ** Amount available for distribution 56,908 52, Distribution per Unit (cents) * Amount less than S$,000 ** Not meaningful 4

15 Gross revenue for QFY8/9 was S$9.5 million, 3.0% (or S$2.7 million) higher than the corresponding quarter last year. This was due to revenue contribution from Phase Two of the build-to-suit ( BTS ) project for HP Singapore (Private) Limited ( HP Phase Two ) and pre-termination compensation sum received from HGST Singapore Pte Ltd, partially offset by lower occupancies across all the property segments except for Hi-Tech Buildings and Light Industrial Buildings. Property operating expenses were S$22.0 million, 6.8% (or S$.4 million) higher than the corresponding quarter last year. This was mainly attributed to higher property maintenance expenses and property taxes, partially offset by lower marketing commission and utilities. As a result, the net property income in QFY8/9 increased by.9% (or S$.3 million) to S$69.5 million. Net income was S$56.6 million, 7.5% (or S$4.0 million) higher than the corresponding quarter last year. This was largely due to the higher net property income and share of profit of joint venture, partially offset by higher borrowing costs and manager s management fees. The higher borrowing costs were due to interest expense from debt borrowed to fund investment in joint venture and interest incurred in relation to HP Phase Two which were being expensed (instead of being capitalised) upon obtaining Temporary Occupation Permit ( TOP ). The weighted average interest rate for QFY8/9 was 3.0% as compared to 2.8% in QFY7/8. Higher manager s management fees were due to better portfolio performance and increased value of assets under management. The amount available for distribution in QFY8/9 was S$56.9 million, 7.6% (or S$4.0 million) higher than the corresponding quarter last year mainly due to distribution declared by joint venture of S$3.2 million. Distribution per unit for QFY8/9 was higher at 3.00 cents per unit compared to 2.92 cents in QFY7/8. 5

16 Statement of Total Returns (MIT Group) QFY8/9 vs 4QFY7/8 QFY8/9 4QFY7/8 Increase/ (Decrease) (S$ 000) (S$ 000) (%) Gross revenue 9,487 90,39.2 Property operating expenses (22,028) (22,52) (2.) Net property income 69,459 67, Interest income (93.8) Borrowing costs (9,358) (9,269).0 Manager's management fees - Base fees (4,966) (4,827) Performance fees (2,500) (2,444) 2.3 Trustee's fees (42) (4) 0.7 Other trust expenses (303) (3) (2.6) Net foreign exchange gain 3 8 (83.3) Share of joint venture 4,334 2,048 (79.4) Comprising: - Net profit after tax 4,334 3, Net fair value gain on investment properties - 7,876 ** Net income before net fair value gain on investment properties and investment properties under development 56,587 72,922 (22.4) Net fair value gain on investment properties and investment properties under development - 65,470 ** Net income / total return for the period before income tax 56,587 38,392 (59.) Income tax credit/(expense) * (32) ** Total return for the period after income tax 56,587 38,360 (59.) Net non-tax deductible items (2,96) (86,2) (96.6) Distribution declared by joint venture 3,237 3, Amount available for distribution 56,908 55, Distribution per Unit (cents) * Amount less than S$,000 ** Not meaningful On a quarter-on-quarter basis, gross revenue for QFY8/9 increased by.2% (or S$. million) to S$9.5 million. The increase was mainly attributed to pre-termination compensation sum received from HGST Singapore Pte Ltd, partially offset by lower portfolio occupancy. Property operating expenses amounted to S$22.0 million, 2.% (or S$0.5 million) lower than the preceding quarter. This was mainly due to lower property maintenance expenses and marketing commission, partially offset by higher property taxes and utilities expenses. 6

17 As a result, net property income in QFY8/9 increased by 2.3% (or S$.6 million) to S$69.5 million. Interest income was higher in 4QFY7/8 mainly due to interest earned on loan to the joint venture. The amount available for distribution for QFY8/9 was S$56.9 million, 2.6% (or S$.4 million) higher than 4QFY7/8. The distribution per unit for QFY8/9 was higher at 3.00 cents compared to 2.95 cents in 4QFY7/8. Statement of Financial Position 30 June 208 vs 3 March 208 Total assets increased mainly due to the acquisition of 7 Tai Seng Drive and additional progressive development costs incurred. The Group and MIT reported a net current liabilities position as at 30 June 208 mainly due to the reclassification of long-term borrowings which are maturing in second half of FY8/9 as well as recording of accrued development costs. The Group has sufficient banking facilities available to refinance the remaining current borrowings and meet its current obligations as and when they fall due. 9. Variance from Previous Forecast / Prospect Statement The current results are broadly in line with the commentary made in 4QFY7/8 Financial Results Announcement under Paragraph 0 page 25. The Trust has not disclosed any financial forecast to the market. 7

18 0. Commentary on the competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting and the next 2 month According to advance estimates from the Ministry of Trade and Industry on 3 July 208, the Singapore economy grew by 3.8% on a year-on-year basis ( y-o-y ) in the second quarter of 208 ( 2Q208 ), moderating from the 4.3% growth in the previous quarter. The manufacturing sector grew by 8.6% on a y-o-y basis in 2Q208, slower than the 9.7% growth in the previous quarter. All clusters within the sector expanded during the quarter, with the electronics and biomedical manufacturing clusters contributing the most to the sector s growth. The median rental rate for multi-user factory space island-wide in 2Q208 increased to S$.79 per square foot per month ( psf/mth ), from S$.76 psf/mth in the preceding quarter. For business park space, the island-wide median rental rate dropped to S$4.0 psf/mth from S$4.30 psf/mth in the preceding quarter. The wider economy and business sentiments of the small and medium enterprises in Singapore remain robust. However, looming uncertainties stemming from heightened global political and trade tensions continue to threaten the projected growth momentum. Furthermore, the continuing supply of competing industrial space is exerting pressure on both occupancy and rental rates. The Manager will continue to focus on tenant retention to maintain a stable portfolio occupancy. Several key drivers such as the movement to cloud and outsourcing as well as the need for data to be stored close to its end users and for geographical diversity are expected to contribute to the growing demand in the United States for leased data centre space. Between 207 and 2022F, the demand for leased data centre space (by net utilised square feet) in the United States is expected to grow at a compound annual growth rate ( CAGR ) of 8.7%, faster than the CAGR of 6.8% for the supply of leased data centre space (by net operational square feet) 2. Source: URA/JTC Realis as at 23 July Source: 45 Research, LLC., 2Q

19 . Distributions (a) Current financial period Any distributions declared for the current financial period? Yes Name of distribution: Distribution types: 3st distribution for the period from April 208 to 30 June 208 Income Distribution rate: Period from April 208 to 30 June 208 Taxable Income: 2.90 cents per unit Tax-Exempt Income Distribution: 0.0 cent per unit Par value of units: Tax rate: Not meaningful Taxable Income Qualifying investors and individuals (other than those who hold their units through a partnership) will generally receive pre-tax distributions. These distributions are exempt from tax in the hands of individuals unless such distributions are derived through a Singapore partnership or from the carrying on of a trade, business or profession. Qualifying foreign non-individual investors will receive their distributions after deduction of tax at the rate of 0%. All other investors will receive their distributions after deduction of tax at the rate of 7%. Tax-Exempt Income Distribution Tax-Exempt Income Distribution is exempt from tax in the hands of all Unitholders. (b) Corresponding period of the preceding financial period Any distributions declared for the corresponding period of the immediate preceding financial period? Yes Name of distribution: Distribution types: 27th distribution for the period from April 207 to 30 June 207 Income Distribution rate: Period from April 207 to 30 June 207 Taxable Income: 2.92 cents per unit Par value of units: Tax rate: Not meaningful Taxable Income Qualifying investors and individuals (other than those who hold their units through a partnership) will generally receive pre-tax distributions. These distributions are exempt from tax in the hands of individuals unless such distributions are derived through a Singapore partnership or from the carrying on of a trade, business or profession. 9

20 (c) Date payable: By 30 August 208 (d) Book closure date: August 208 Qualifying foreign non-individual investors will receive their distributions after deduction of tax at the rate of 0%. All other investors will receive their distributions after deduction of tax at the rate of 7%. 2. If no distribution has been declared/(recommended), a statement to that effect. Not applicable. 3. Segment Information (MIT Group) QFY8/9 QFY7/8 S$ 000 % S$ 000 % Gross Revenue Flatted Factories 40, , Hi-Tech Buildings 27, , Business Park Buildings, , Stack-up/Ramp-up Buildings 0,778.8, Light Industrial Buildings,750.9, , , Net Property Income Flatted Factories 3, , Hi-Tech Buildings 2, , Business Park Buildings 7, , Stack-up/Ramp-up Buildings 8, , Light Industrial Buildings,258.8, , , In the review of performance, the factors leading to any material changes in contributions to turnover and earnings by the business or geographical segments Flatted Factories remained as the largest contributor to MIT Group s gross revenue and net property income in QFY8/9. The contribution from the Hi-Tech Buildings increased in QFY8/9 mainly due to the new revenue contribution from HP Phase Two. 5. If the Group has obtained a general mandate from shareholders for Interested Person Transactions ( IPT ), the aggregate value of each transaction as required under Rule 920()(a)(ii). If no IPT mandate has been obtained, a statement to that effect. MIT Group has not obtained a general mandate from Unitholders for any Interested Person Transactions. 20

21 6. Confirmation pursuant to Rule 720() of the Listing Manual The Manager confirms that it has procured undertakings from all its directors and executive officers, in the format set out in Appendix 7.7 under Rule 720() of the Listing Manual. 7. Confirmation by the Board The Board of Directors of the Manager has confirmed that, to the best of their knowledge, nothing has come to their attention which may render these interim financial results to be false or misleading in any material respect. This release may contain forward-looking statements that involve risks and uncertainties. Future performance, outcomes and results may differ materially from those expressed in forward-looking statements as a result of a number of risks, uncertainties and assumptions. Representative examples of these factors include (without limitation) general industry and economic conditions, interest rate trends, cost of capital and capital availability, competition from other companies and venues for the sale/ distribution of goods and services, shifts in customer demands, customers and partners, changes in operating expenses, including employees wages, benefits and training, governmental and public policy changes and the continued availability of financing in the amounts and the terms necessary to support future business. You are cautioned not to place undue reliance on these forward looking statements, which are based on current view of management of future events. By Order of the Board Wan Kwong Weng Joint Company Secretary Mapletree Industrial Trust Management Ltd. (Company Registration No D) As Manager of Mapletree Industrial Trust 2